Indonesia's Rupiah Hits Record Low on Central Bank Independence Worries

FOREX. Indonesia's rupiah hit a record low against the dollar on Tuesday as investors fretted about the country's central bank independence after President Prabowo Subianto nominated his nephew  to join Bank Indonesia's board of governors.

The rupiah slid to 16,975 per U.S. dollar at the open on Tuesday as worries over Indonesia's widening fiscal deficit as well as uncertainty from U.S. tariff policy hit sentiment.

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